PVH (NYSE:PVH) Raised to Buy at StockNews.com

StockNews.com upgraded shares of PVH (NYSE:PVH) from a hold rating to a buy rating in a report published on Thursday morning.

PVH has been the subject of a number of other research reports. The Goldman Sachs Group dropped their price target on PVH from $128.00 to $109.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. JPMorgan Chase & Co. dropped their price objective on PVH from $91.00 to $87.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Wells Fargo & Company lifted their price objective on PVH from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday. BMO Capital Markets dropped their price objective on PVH from $106.00 to $93.00 and set a “market perform” rating for the company in a research report on Tuesday, April 1st. Finally, Citigroup reiterated a “neutral” rating and set a $68.00 price objective (down previously from $83.00) on shares of PVH in a research report on Monday, April 7th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, PVH presently has an average rating of “Moderate Buy” and a consensus target price of $105.67.

PVH Trading Up 1.1%

Shares of PVH stock opened at $86.37 on Thursday. PVH has a fifty-two week low of $59.28 and a fifty-two week high of $124.68. The stock has a market cap of $4.15 billion, a P/E ratio of 7.03, a P/E/G ratio of 0.77 and a beta of 1.81. The business has a fifty day simple moving average of $70.15 and a 200-day simple moving average of $86.53. The company has a quick ratio of 0.69, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

PVH (NYSE:PVH) last announced its quarterly earnings results on Monday, March 31st. The textile maker reported $3.27 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.08. PVH had a return on equity of 13.66% and a net margin of 8.13%. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter last year, the business posted $3.72 earnings per share. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, analysts forecast that PVH will post 11.67 earnings per share for the current fiscal year.

PVH Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th will be paid a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend is Wednesday, June 4th. PVH’s dividend payout ratio is currently 1.42%.

Hedge Funds Weigh In On PVH

Hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC lifted its position in PVH by 71.3% during the 3rd quarter. Barclays PLC now owns 60,495 shares of the textile maker’s stock worth $6,097,000 after acquiring an additional 25,174 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in PVH during the 4th quarter worth approximately $216,000. Assenagon Asset Management S.A. purchased a new stake in PVH during the 4th quarter worth approximately $1,987,000. Hennessy Advisors Inc. increased its holdings in PVH by 6.8% during the 4th quarter. Hennessy Advisors Inc. now owns 80,380 shares of the textile maker’s stock worth $8,500,000 after purchasing an additional 5,100 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in PVH by 78.5% during the 4th quarter. UMB Bank n.a. now owns 282 shares of the textile maker’s stock worth $30,000 after purchasing an additional 124 shares during the last quarter. 97.25% of the stock is owned by institutional investors and hedge funds.

About PVH

PVH Corp. operates as an apparel company in the United States and internationally. The company operates through Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, and Heritage Brands Wholesale segments. It designs and markets men's, women's, and children's branded apparel, footwear and accessories, underwear, sleepwear, outerwear, home furnishings, luggage, dresses, suits and swimwear, activewear, sportswear, socks and accessories, outerwear, golf products, footwear, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, jeans wear, performance apparel, intimate apparel, dress shirts, handbags, fragrance, small leather goods, and other related products; and men's and boy's tailored clothing products, duvets, pillows, mattress pads and toppers, and feather beds.